Nisa Investment Advisors LLC Sells 934 Shares of Avidity Biosciences, Inc. (NASDAQ:RNA)

Nisa Investment Advisors LLC lowered its stake in Avidity Biosciences, Inc. (NASDAQ:RNA) by 21.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,465 shares of the biotechnology company’s stock after selling 934 shares during the period. Nisa Investment Advisors LLC’s holdings in Avidity Biosciences were worth $159,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System increased its stake in shares of Avidity Biosciences by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 19,965 shares of the biotechnology company’s stock valued at $816,000 after buying an additional 405 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in Avidity Biosciences during the 3rd quarter worth about $30,000. Values First Advisors Inc. acquired a new position in Avidity Biosciences during the 3rd quarter valued at about $32,000. nVerses Capital LLC boosted its stake in shares of Avidity Biosciences by 25.9% in the 2nd quarter. nVerses Capital LLC now owns 3,400 shares of the biotechnology company’s stock valued at $139,000 after purchasing an additional 700 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Avidity Biosciences by 4.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,186 shares of the biotechnology company’s stock valued at $541,000 after purchasing an additional 920 shares during the last quarter.

Insider Buying and Selling

In related news, insider Teresa Mccarthy sold 13,153 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $44.00, for a total transaction of $578,732.00. Following the completion of the transaction, the insider now directly owns 69,018 shares in the company, valued at approximately $3,036,792. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Teresa Mccarthy sold 13,153 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $44.00, for a total value of $578,732.00. Following the sale, the insider now owns 69,018 shares of the company’s stock, valued at $3,036,792. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Arthur A. Levin sold 5,000 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $45.73, for a total transaction of $228,650.00. Following the transaction, the director now owns 14,830 shares of the company’s stock, valued at $678,175.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 127,543 shares of company stock valued at $5,782,042. Company insiders own 3.68% of the company’s stock.

Avidity Biosciences Price Performance

Shares of Avidity Biosciences stock opened at $47.24 on Thursday. Avidity Biosciences, Inc. has a 1 year low of $5.15 and a 1 year high of $50.78. The company has a market capitalization of $5.19 billion, a P/E ratio of -15.41 and a beta of 0.91. The business has a 50-day moving average of $44.43 and a two-hundred day moving average of $39.13.

Avidity Biosciences (NASDAQ:RNA) last announced its earnings results on Friday, August 9th. The biotechnology company reported ($0.65) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.11. The firm had revenue of $2.05 million for the quarter, compared to the consensus estimate of $7.09 million. Avidity Biosciences had a negative net margin of 2,381.82% and a negative return on equity of 32.89%. On average, equities analysts anticipate that Avidity Biosciences, Inc. will post -2.94 EPS for the current fiscal year.

Analyst Ratings Changes

RNA has been the topic of several analyst reports. Evercore ISI cut their price objective on shares of Avidity Biosciences from $54.00 to $53.00 and set an “outperform” rating on the stock in a report on Monday, August 26th. The Goldman Sachs Group initiated coverage on Avidity Biosciences in a research note on Tuesday, September 24th. They issued a “buy” rating and a $59.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $60.00 price objective on shares of Avidity Biosciences in a research note on Thursday, October 31st. Chardan Capital increased their target price on Avidity Biosciences from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, TD Cowen boosted their target price on Avidity Biosciences from $56.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $63.22.

Avidity Biosciences Company Profile

Avidity Biosciences, Inc, a biopharmaceutical company, engages in the delivery of RNA therapeutics. It develops antibody oligonucleotide conjugates (AOC) that are designed to treat diseases previously untreatable with RNA therapeutics. The company's lead product candidate AOC 1001 for the treatment of myotonic dystrophy type 1, a rare monogenic muscle disease that is in phase 1/2 clinical trial.